Xiaomi Redmi Note 4 India Sales Target Said to Be 7 Million Units

Highlights

Xiaomi's Redmi Note 4 is now available to buy in India

Xiaomi intends to become top smartphone vendor in 3-5 years

The company is also looking to open new manufacturing capacity

The Xiaomi Redmi Note 4 smartphone, the budget stalwart continues to gain in popularity, with the top variant going out of stock within minutes of the sale starting. So reports that Xiaomi has doubled the India sales target for the smartphone compared to the Redmi Note 3, the predecessor of the new model. The Chinese company has set the Redmi Note 4 (Review) sales target for India as 7 million, and is eyeing the spot of the country's biggest smartphone vendor in the next 3-5 years.

According to a report, Xiaomi was able to sell roughly 3.6 million units of the Redmi Note 3 last year - declaring it to be the bestselling online phone in the country. Manu Jain, Head of Xiaomi India, revealed the details about sales target for the Redmi Note 4 in an interview. Jain talking about where he sees Xiaomi in next few years, "I would want Xiaomi to become number one in overall smartphone sales volume perspective in India in 3-5 years."

For achieving the set sales target for the Redmi Note 4, Xiaomi needs to increase its manufacturing capacity. Jain detailing on the plans said, "We are looking to open one or two new factories with similar capacities to double or triple our capacities either at Sri City itself or elsewhere in the country with Foxconn."

Jain reiterated that Indian remains a very important market for Xiaomi outside China. The Chinese company, which entered the Indian market less than two years ago, crossed $1 billion (roughly Rs. 6,800 crores) in revenue in India last year. "We have already invested hundreds of millions dollars in India over last few years and India will remain our first priority outside Mainland China. We will continue to invest hundreds of millions of dollars on manufacturing, warehouses, logistics, call centres and service centres in India," he added.

Xiaomi's Redmi Note 4 smartphone, which went on sale last month, received a tremendous response from the Indian market. Xiaomi announced that 250,000 units of the Redmi Note 4 were sold in 10 minutes in the smartphone's first sale in the country.

Last week, the 2GB RAM variant of the Xiaomi Redmi Note 4 went on sale for the first time. The 2GB RAM with 32GB inbuilt storage model was launched at Rs. 9,999. Along with this model, the other two variants of the Xiaomi smartphone - 3GB RAM + 32GB storage (Rs. 10,999), and 4GB RAM + 64GB storage (Rs. 12,999) - were available for purchase as well. Considering the price point of Redmi Note 4 base variant, it is expected to receive the maximum traction compared to other versions in India.